There are a few changes for the 2023 Tax year that we are now in.
The minimum wage for adults (16 and over) has increased t0 $21.20 an hour. The starting out and training minimum wage has increased to $16.96 an hour.
The ACC Earner levy has increased. The ACC Earner Levy rate will be 1.46% (previously 1.39%) which will affect all employees - they will likely get less in the hand each pay. The ACC Threshold has also increased to $136,544 (previously $130,911).
The Student Loan threshold has increased to $21,268 which affect employees repaying Student Loans (using Tax Codes M SL, ME SL or S SL)
Please contact us if you have any queries about the above.